Ormat Technologies (ORA) Q3 FY2026 earnings: revenue $275 million, up 10.2% on the year

Ormat Technologies, Inc. (ORA) reported revenue of $275 million for Q3 FY2026, the quarter ended 30 September 2026, up 10.2% on the same quarter a year earlier. Net income was $32 million, up 32.2% on the year, and diluted earnings per share $0.51. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$275 million

+10.2% on the year · +6.3% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

16.4%

16.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

$32 million

+32.2% on the year · +17.8% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.51

+30.8% on the year · +18.6% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 2 lowered, 3 narrowed.

Revenue rose 10.2% on storage: Total revenues were $275.1 million, up 10.2% from $249.7 million. Energy Storage revenue rose 145.2% to $49.9 million, while Electricity and Product revenue each declined.
Net income up 32.2%: Net income attributable to stockholders was $31.9 million, or $0.51 per diluted share, up from $0.39. Adjusted diluted EPS was $0.56, against $0.41 a year earlier.
Adjusted EBITDA up 11.1%: Adjusted EBITDA reached $153.8 million, up from $138.4 million. Management attributed the gain to Energy Storage, citing higher merchant prices, high availability and portfolio expansion.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	275	259	250	+6.3%	+10.2%
Cost of revenue	198	190	186	+4.0%	+6.5%
Gross profit	77.4	68.7	64.0	+12.6%	+20.8%
Gross margin	28.1%	26.5%	25.6%
Research and development	1.4	1.5	1.3	-5.1%	+10.9%
Operating income	45.2	34.2	40.4	+32.3%	+11.9%
Operating margin	16.4%	13.2%	16.2%
Interest expense	44.2	43.9	35.7	+0.6%	+23.9%
Pre-tax income	22.6	17.2	20.0	+31.7%	+13.1%
Income tax	-6.8	-9.7	-4.3
Effective tax rate	-30.0%	-56.3%	-21.4%
Net income	31.9	27.1	24.1	+17.8%	+32.2%
Net margin	11.6%	10.5%	9.7%
Diluted EPS	$0.51	$0.43	$0.39	+18.6%	+30.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	99.7	50.6	45.2	+97.0%	+120.9%
Capital expenditure	173	138	147	+25.1%	+17.2%
Free cash flow	-72.9	-87.4	-102
Free cash flow margin	-26.5%	-33.8%	-40.9%
Cash from investing	-166	-138	-147
Cash from financing	-79.9	-17.1	102
Depreciation and amortisation	82.5	79.6	75.0	+3.7%	+10.0%
Share-based compensation	5.5	6.2	4.9	-11.9%	+11.3%
Buybacks	0.0	0.0	0.0
Dividends paid	7.4	7.2	7.3	+2.4%	+1.5%
Dividend per share	$0.12	$0.12	$0.12	0.0%	0.0%
Diluted shares, weighted	62m	63m	61m	-0.6%	+1.5%
Shares outstanding at period end	62m	61m	61m	+0.0%	+1.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,633	2,598	2,510	+1.4%	+4.9%
Non-controlling interest	133	137	133	-2.3%	+0.1%
Redeemable equity	9.7	9.9	9.9	-2.1%	-2.0%
Deposits	10.7	10.4	13.2	+2.9%	-18.9%
Debt	1,577	1,571	1,840	+0.4%	-14.3%
Operating lease liabilities	53.0	37.0	25.4	+43.4%	+108.6%
Finance lease liabilities	2.6	2.7	2.6	-4.2%	-2.0%
Other liabilities	2,348	2,423	1,559	-3.1%	+50.6%
Total liabilities and equity	6,767	6,788	6,093	-0.3%	+11.1%
Goodwill	168	168	168	-0.0%	+0.1%
Intangible assets	253	260	282	-2.5%	-10.1%
Cash and equivalents	348	514	79.6	-32.3%	+337.4%
Receivables	170	173	150	-1.4%	+13.4%
Inventory	44.2	47.3	44.6	-6.4%	-0.8%
Other assets	5,784	5,627	5,369	+2.8%	+7.7%
Total assets	6,767	6,788	6,093	-0.3%	+11.1%

Questions

What was Ormat Technologies' revenue in Q3 FY2026?

Ormat Technologies (ORA) reported revenue of $275 million for Q3 FY2026, the quarter ended 30 September 2026, up 10.2% on the same quarter a year earlier.

How much did Ormat Technologies earn in Q3 FY2026?

Net income for Q3 FY2026 was $32 million, up 32.2% on the year, and diluted earnings per share $0.51.

When did Ormat Technologies report Q3 FY2026 results?

Ormat Technologies filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	191	184	169	176	205	185	195	208	241	224	213	212	231	230	234	250	276	404	259	275
Cost of revenue	115	114	111	115	125	109	145	148	163	145	152	153	157	157	177	186	197	284	190	198
Gross profit	75.6	69.9	57.6	61.1	80.2	76.1	49.5	60.0	78.5	78.8	61.4	58.9	73.6	72.9	56.9	64.0	78.8	120	68.7	77.4
Gross margin	40%	38%	34%	35%	39%	41%	25%	29%	33%	35%	29%	28%	32%	32%	24%	26%	29%	30%	27%	28%
R&D	0.9	1.1	1.4	1.2	1.4	1.3	2.1	1.4	2.5	1.6	1.7	1.8	1.4	2.5	1.4	1.3	1.0	1.1	1.5	1.4
Operating income	54.9	45.1	38.6	38.9	30.2	53.2	24.2	37.6	51.6	52.6	35.1	35.7	49.1	50.9	35.3	40.4	42.6	80.3	34.2	45.2
Operating margin	29%	25%	23%	22%	15%	29%	12%	18%	21%	23%	16%	17%	21%	22%	15%	16%	15%	20%	13%	16%
Interest expense	22.8	21.1	20.4	22.4	23.8	23.6	24.4	25.1	25.8	31.0	33.7	34.8	34.5	34.5	36.7	35.7	35.0	45.0	43.9	44.2
Pre-tax income	42.2	32.4	22.6	27.6	13.0	42.1	18.6	29.6	48.8	39.4	19.6	24.7	31.7	37.6	22.0	20.0	26.2	28.6	17.2	22.6
Tax rate	37%	31%	27%	26%	-68%	21%	-21%	-24%	17%	-0%	-16%	-5%	-37%	-10%	-25%	-21%	-26%	-54%	-56%	-30%
Net income	18.9	18.4	11.3	18.1	18.0	29.0	24.2	35.5	35.7	38.6	22.2	22.1	40.8	40.4	28.0	24.1	31.4	44.1	27.1	31.9
Net margin	10%	10%	7%	10%	9%	16%	12%	17%	15%	17%	10%	10%	18%	18%	12%	10%	11%	11%	10%	12%
Diluted EPS	$0.34	$0.33	$0.20	$0.32	$0.32	$0.51	$0.40	$0.59	$0.59	$0.64	$0.37	$0.36	$0.67	$0.66	$0.46	$0.39	$0.50	$0.71	$0.43	$0.51
Operating cash flow	114	81.8	33.5	91.0	74.7	56.5	74.0	39.8	139	115	30.7	106	159	88.0	96.9	45.2	105	78.6	50.6	99.7
Capital expenditure	131	137	126	145	155	107	160	182	170	103	147	110	128	193	135	147	145	114	138	173
Free cash flow	-16.8	-55.5	-92.7	-54.0	-80.4	-50.4	-85.8	-142	-30.4	11.8	-116	-3.3	30.9	-105	-37.9	-102	-40.0	-35.2	-87.4	-72.9
Buybacks	n/a	n/a	18.0	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	n/a	24.4	0.0	0.0
Dividends paid	7.1	6.7	6.7	6.7	7.0	6.7	7.2	7.2	7.2	7.2	7.3	7.3	7.3	7.3	7.3	7.3	7.2	7.5	7.2	7.4
Shares outstanding	56m	56m	56m	56m	56m	60m	60m	60m	60m	60m	60m	60m	60m	61m	61m	61m	61m	61m	61m	62m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.